Ghana has successfully hosted the onsite visit for its Third Round Mutual Evaluation (ME) exercise, marking a major milestone in assessing the country’s compliance with international standards on anti-money laundering, counter-terrorist financing, and counter-proliferation financing (AML/CFT/CPF).
The evaluation was conducted under the framework of the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA), a specialised institution of the Economic Community of West African States (ECOWAS), in accordance with the benchmarks set by the Financial Action Task Force (FATF).
Briefing journalists, the Chief Executive Officer of the Financial Intelligence Centre (FIC), Mr Kwadwo Twum Boafo, stated that the onsite visit—held from 26 January to 6 February 2026—represented the most critical phase of the evaluation process.
He explained that during the mission, a team of international assessors and officials from the GIABA Secretariat engaged extensively with stakeholders from Ghana’s public and private sectors. The purpose was to validate the country’s technical compliance with the FATF’s 40 Recommendations and to assess the overall effectiveness of its AML/CFT/CPF framework.
Mr Twum Boafo noted that the opening session brought together high-level government and institutional leaders, including the Deputy Minister for Finance, Mr Thomas Nyarko Ampem; the Governor of the Bank of Ghana, Dr Johnson Pandit Asiamah; the National Security Coordinator, COP Osman Abdul Razak; representatives from the Ministry of Foreign Affairs; and the Director General of GIABA, Mr Edwin Harris Jnr.
The assessors held meetings with a broad range of competent authorities, supervisory and self-regulatory bodies, as well as representatives from financial institutions, designated non-financial businesses and professions (DNFBPs), non-profit organisations, and virtual asset service providers.
Unlike previous assessments, he emphasised, the Third Round Mutual Evaluation placed strong emphasis on effectiveness. Assessors examined Ghana’s understanding of money laundering and terrorist financing risks, risk-based supervision, the use of financial intelligence in investigations and prosecutions, targeted financial sanctions, transparency of beneficial ownership information, asset recovery outcomes, and mechanisms for inter-agency and international cooperation.
Mr Twum Boafo highlighted that the onsite visit gave Ghana an opportunity to showcase the legislative reforms, regulatory enhancements, and improved institutional coordination introduced since the previous evaluation. These developments underscore the country’s commitment to safeguarding its financial system and combating illicit financial flows.
He described the successful completion of the onsite mission as a significant milestone in Ghana’s AML/CFT/CPF journey, while noting that the overall Mutual Evaluation process remains ongoing.
The final report, he added, is expected to be considered for adoption at the GIABA Plenary scheduled for November 2026.
The closing ceremony was attended by the Minister for Finance and Chairman of the Inter-Ministerial Committee on CPF, Dr Cassiel Ato Forson; the Second Deputy Governor of the Bank of Ghana, Mrs Matilda Asante; the Deputy National Security Coordinator, Madam Elizabeth Yankah; the FIC CEO; and representatives of GIABA, formally bringing the two-week mission to a close.
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